All posts by T3 Trader
Scott Redler’s Morning Call Express Video: Digesting Gains
In today’s Morning Call Express Video, T3 Live Chief Strategic Officer Scott Redler breaks down SPX , EWG, and USO, as well as individual names like AMZN and AAPL.
Continue Reading -->Daily Recap: Lots of Divergences
In today’s daily recap, Scott Redler talks about the action in markets over this past week and how things are looking ahead of tomorrow’s Jobs report. He also discusses the various divergences that have been playing out over the recent week. In addition, Scott recaps the action in names like JP Morgan (JPM), Goldman Sachs (GS), Facebook (FB), Amazon (AMZN), and others.
Continue Reading -->Morning Call Express: December to Remember?
In today’s Morning Call Express, Scott Redler welcomes us to a new month and updates the action in the SPX. He also looks at the recent move in oil and some of the levels to be watching heading into today’s action.
Continue Reading -->Morning Call Express: Oil Grease The Bears
In today’s Morning Call Express, Scott Redler talks about oil as it seems OPEC will reach a deal. He also reviews the chart of the SPX and how it looks as we move into the final month of the year. Scott also looks at the Energy ETF (XLE) and the clues that it was giving ahead of the OPEC meeting. He also looks at high beta tech names ans how they are looking.
Continue Reading -->Meet the Traders: 11 Questions with Mark Harila
To help you get to know T3 Live’s growing bench of trading talent, we’ve launched a new series called “Meet the Traders” so you can get a direct introduction to our team. Today, we’d like you to meet Mark Harila, who is a moderator for the T3 Live Black Room on our Virtual Trading Floor®. Thank you for joining us Mark! 1) Tell Us a Little About Yourself Mark. The hardest question I have to answer these days is “so what do you do?” My wife and I own 9 small businesses. Yes, 9. But I identify as a trader because that’s what first comes to mind when people ask what I do. Before I entered the trading world, I worked on over 30 installations across all branches of the US military. I enjoy traveling, and I love spending time with anyone who can handle a few quips and a little sarcasm. 2) How did you first get involved with the markets? I have been interested in the market for as long as I can remember. When I was in high school, my economics teacher held an investing contest and the winner was guaranteed an A for the semester. This piqued my interest doubly: a chance to get an easy A and learn how to make money? It turns out that even then I was a trader, not an investor. Every day I ran to the paper to see how my stock picks did and figure out what to buy or sell next. Between my competitive nature, a ton of reading, and lots of trial and error (so much for an “easy A”), I got an A in the class. But more importantly, I stoked a lifelong love affair with the markets 3) How would you describe your trading methodology? I am a technical analyst and trader. Many people believe technical analysis is about learning patterns. The truth isn’t that simple. Technical analysis is about understanding the psychology and emotions of market participants. If you can understand others traders’ emotions, expectations, hopes, and fears, then you will have a greater understanding of price movement. I tend to look for multiple elements converging in an area, with a compelling reason or impetus (such as a gap, void, pattern matching the market bias. etc) to find high quality patterns that are most likely to move in my direction. 4) You’ve said that when you started trading, you focused on learning on only one pattern at a time. Is this something you recommend to all new traders? YES! In T3 Technical Strategies, we teach a number of patterns but not every pattern is for every trader. When I started with our system, I spent weeks trading only one pattern until I knew it inside and out. I thought I was learning which setups worked beest, what time frames I should trade, which amplifiers were more likely to help, etc. But what I was really learning was my own psychology, preferences, and most importantly, my weaknesses. And believe me, there were more than I expected. The bottom line is, in order to be successful, you need to know yourself first. And by focusing on mastering each concept in isolation, you’ll essentially create a customized methodology that works best for your personality. 5) What is your day-to-day focus these days? My focus is on everything and nothing. It changes based on the time of day and the opportunities that present themselves. In the morning I focus on gaps, especially those that create huge emotional reactions in traders, like euphoria or pain. Later in the day I focus on my universe of about 900 stocks that meet my daily volume, ATR (average true range), and price requirements. I keep all 900 on 15-minute thumbnail charts sorted by sector. At lunch, I scan the entire universe in search of my afternoon trades. 6) What is the 1 thing you wish you knew when you started as a trade? I can’t say this enough: Novice traders look for ALL the reasons TO take a trade. Professional traders look for ALL the reasons NOT TO take a trade. My job as a trader is to find everything wrong with a trade and all the reasons it might fail. Then and only then can I take a trade in accordance with my plan. 7) Do you have a certain risk management strategy for cutting losses? Every trade I take has a clearly defined Stop Loss, Entry Price, and Target. I wrote Stop Loss first because it’s the most important, and because adhering to stops is non-negotiable. The stop is predicated on a chart area that if violated, represents a significant change in the trade. At that point, I no longer want to be in that trade. I risk the same amount of money on each trade, and the number of shares I take is predicated on the entry and the stop. In other words, my entire trading plan is a risk management strategy to cut losses, and Losses are an inevitable part of trading. They are even acceptable when viewed as a cost of business — I consider losses to be an education expense. 8) Are you concerned about high-frequency and algorithmic grading? There is no question in my mind that HFT’s and Algos can affect trading. But, I am not concerned about them. In fact if you know what to look for, they can give you a number of opportunities. 9) What is 1 thing traders can do today to start getting better results? I’m going to give you 3. First and foremost create a written plan. Trading without a plan is like cooking without a recipe. It can be done but you can expect mixed results. Plus, it’s nearly impossible to replicate your successes you don’t know how you got them. Second, track your trading activity, and don’t limit yourself to your P&L. You should be noting which setups you use, trade management tactics, what happened after you got out, and whether the trade met your plan. If you are not tracking
Continue Reading -->Morning Call Express: Digestion or Indigestion
In today’s Morning Call Express, Scott Redler discusses the weakness we saw yesterday and what we can expect this week. He also maps out how the recent “Trump Rally” had similar action to the Brexit move. Scott also looks at the chart of Apple (AAPL), Netflix (NFLX), Amazon (AMZN), and Gold (GLD).
Continue Reading -->Morning Call Express: Cyber Monday
In today’s Morning Call Express, Scott Redler looks at the SPX and talks about where the markets are at this morning, and the move up we have seen the last month. He also looks at oil (USO), Amazon (AMZN), Apple (AAPL) and others.
Continue Reading -->Scott Redler’s Morning Call Express Video: All-Time Highs
In today’s Morning Call Express, T3 Live Chief Strategic Officer Scott Redler breaks down the action in SPX and USO, as well as individual names like AAPL and FB.
Continue Reading -->Daily Recap: Markets Close at Records
In today’s Daily Recap, Scott Redler talks about the market at all-time highs as we start this holiday shortened week. He spotlights some of the key events that have taken place this year and where things may be headed in the days ahead. Scott also looks at various sectors as well as high beta tech names.
Continue Reading -->Morning Call Express: Wall Street Stocks Look for Direction
In today’s Morning Call Express, Scott Redler talks about the post election action in the market as well as various sectors. He reviews the action in the SPX over this year and what it would need to take in order to see all-time highs. Scott also looks at a couple of sectors, as well as banks and a few new issues.
Continue Reading -->